As a request from a finance dude who happens to be the author of this blog cianoyinthephilippinestockmarket.blogspot.com/, I have posted my technical insights on the stock charts of 3 blue chips, particularly Meralco, PLDT and San Miguel Corporation. The one-year time frame of Meralco stock chart shows the uptrend is still intact (PLDT and San Miguel are on seperated posts, scroll down to view it) since the price hasn't gone below the support line (purple dotted diagonal line) however there seems to be a descend in price from the previous trading days (indicated by the green dotted diagonal line). A break in the support line is possible or a bounce back up. The stock price moving sideways should also be considered. Looking at the MACD on the other hand, there is a weakness shown as a crossover is made between the red and blue line (indicated by the red circle). Personally, I won't touch this stock as of the moment or if I do my cut loss will be set below the support line. Click image to enlarge!
2 comments:
Hey thanks a lot for the readings! It does look like most stocks are in consolidation huh. Most of the stuff I saw are not quite on buying levels too.
No problem. Yeah, most stocks are in consolidation but there are still that haven't gone up after the crash so i'd be betting on those. Cheers.
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